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Susanna Keung

Supportive International reported Q3 net profit of MYR1.5 million - 0 views

  • Susanna Keung
     
    Malaysian wire and cable company Supportive International Holdings Bhd reported financial results for the third quarter ended 31st October, 2009. Q3 revenue was MYR18.9 million (US$5.5 million), down from MYR31.1 million (US$9.1 million) for the same period in the previous year. Net profit for the third quarter was MYR1.5 million (US$0.4 million), compared to MYR2.4 million (US$0.7 million) a year ago.
Caroline Millar

Japan - Furukawa Electric to launch new wire-harness plants in Brazil, India, China - 0 views

  • Caroline Millar
     
    Japan's Furukawa Electric has announced plans to build new wire-harness plants in Brazil, India and China over the next 3 years. The firm is also following a strategy to acquire majority stakes in its joint venture production sites around the world. In China, where a new harness plant is planned for Wuhan - to add to the 5 existing Chinese auto-parts plants - sales are expected to reach ¥32-35bn in 2013.
Caroline Millar

Japan - SWCC Showa Group continues to reorganise its wire harness business - 0 views

  • Caroline Millar
     
    Japan's SWCC Showa Holdings says its domestic wire harness production subsidiary, Daiji, will close its Itami plant in Japan, to integrate the operation into its Okayama plant. In October, two wire harness production subsidiaries in Dongguan, China, were integrated into a single plant (Dongguan Showa Interconnect Products). The ongoing reorganisation is a response to the trend in recent years for Showa's main wire harness customers - Japanese electric appliance makers - to transfer operations to China and Southeast Asia.
Panos Kotseras

Japan - Copper wire & cable shipments fell by 17% y-o-y in September - 0 views

  • Panos Kotseras
     
    According to data released by the Japanese Electric Wire and Cable Makers' Association, Japanese copper wire and cable offtake in September contracted by 17% y-o-y, the 12th sequential monthly decrease. Shipments in September amounted to an estimated 57,800t, a 14% m-o-m increase. The copper wire and cable sales forecast for FY2009 has been revised down to 648,000t compared to an earlier projection of 705,000t.
Panos Kotseras

France - Nexans announces Q3 2009 sales figures - 0 views

  • Panos Kotseras
     
    Nexans published its Q3 2009 sales figures and reported revenues of €1.27 billion (US$1.90 billion) compared to €1.69 billion (US$2.53 billion) in Q3 2008, a decline of 25%. At constant metal prices, sales in Q3 2009 amounted to €988 million (US$1.48 billion), which corresponds to a 19% organic decrease. For the nine months ending September 30 the company reported an organic fall in cable business sales of 17%, based on constant metal prices calculations. This compares with a 16% contraction experienced in H1 2009. Nexans said that lower building cable sales in Europe and Asia-Pacific as well as setbacks in the execution of high voltage contracts affected its sales figures. Energy cable revenues in Q3 were down by 13% y-o-y; those of telecom cables plunged by 19% y-o-y. In line with planned cutbacks in production capacity, electrical wire sales in Q3 were down by 35% y-o-y.
Caroline Millar

USA - Superconductor wire cable system to connect US's 3 power grids - 0 views

  • Caroline Millar
     
    The Tres Amigas Project has decided to use a superconductor wire and cable system supplied by American Superconductor Corp., with multiple AC/DC converters connected by DC superconductor cables, to provide the first interconnection of all 3 of America's power grids. The new power hub will enable the transfer of power from multiple renewable energy sources across a wide area of North America.
Caroline Millar

China - Lihua International announces production capacity expansion - 0 views

  • Caroline Millar
     
    Lihua International Inc., leading Chinese producer of low cost, high quality alternatives to pure copper superfine and magnet wire, announced on 12 October it has begun production on four new proprietary high speed manufacturing lines. They increase its copper wire capacity to 1,500 tonnes per month (from 1,000tpm) and CCA wire capacity to 600tpm (from 500tpm). The company's copper recycling facility operates two horizontal smelters for a current production capacity of 25,000 tonnes per annum.
Caroline Millar

France - Nexans says copper price will decline this quarter on ample supply - 1 views

  • Caroline Millar
     
    Nexans, the world's largest wire and cable maker, expects copper to drop in the fourth quarter, because of ample supply; stockpiles in warehouses monitored by the LME have expanded 35% since July. Christian Velten-Jameson, Nexans' Corporate VP of finance, treasury and metals, said in an interview on October 5: "Prices are likely to fall this year and part of next year. It really depends on when growth will pick up." Last month Nexans said it may reduce production capacity of basic copper wires in France by more than half.
Caroline Millar

Korea - AMSC/LS Cable alliance targets commercial superconductor cable deployment - 0 views

  • Caroline Millar
     
    American Superconductor Corp. (AMSC) and Korea's LS Cable Ltd. have formed a strategic alliance to advance commercial sales of superconductor cables. LS Cable will get an ongoing supply of high-quality HTS wire from AMSC, and they will work together to deploy at least 10 km of superconductor power cables in commercial power grids over the next five years. AMSC also announced the formation of "AMSC Korea" to provide sales and field service to its local customers, as well as applied engineering services.
Caroline Millar

Sweden - Elektrokoppar sees modest 2010 copper demand pick up - 0 views

  • Caroline Millar
     
    Swedish copper fabricator Elektrokoppar believes global demand will rise modestly by 3-5% next year, but expects the European copper market to remain in surplus due to ample supplies. Elektrokoppar is Western Europe's fifth largest copper wire rod producer - its Helsingborg plant in Sweden has 150,000-160,000 tonnes per year capacity. The company says its H2 copper consumption this year is likely to rise from H1 (H2:75kt vs. H1:70kt), with a further increase in 2010. Output is currently down 16-17% but this compares favourably with a regional average decline of 22-25%.
Panos Kotseras

Japan - Wire and cable shipments in August down by 17.7 % y-o-y - 0 views

  • Panos Kotseras
     
    According to data released by the Japanese Electric Wire and Cable Makers' Association, wire and cable shipments in Japan amounted to an estimated 50,100t in August compared to 58,032t in July. On a y-o-y basis, that was a decline of 17.7%. While there are signs that market demand is improving, the figure indicates that the widely expected economic recovery is not solid yet.
Caroline Millar

Japan - Furukawa Electric's magnet wire production recovers - 0 views

  • Panos Kotseras
     
    Furukawa Electric has reported a recent improvement in its magnet wire production, and plans a monthly production in fiscal 2009 (ending March 2010) of 1,500 tonnes of enamelled wire and 85,000 km of triple insulated magnet wire; this is 70-75% (for enamelled wire) and 80-85% (for triple insulated magnet wire) of the peak levels produced in April-September 2008. Enamelled wire production could reach 1,700-1,800 tonnes per month in October 2009-March 2010. Furukawa Electric's domestic magnet wire production is being consolidated into its Mie Works in order to cut costs; production at its Hiratsuka Works will transfer to Mie within 2009.
  • Caroline Millar
     
    Furukawa Electric has reported a recent improvement in its magnet wire production, and plans a monthly production in fiscal 2009 (ending March 2010) of 1,500 tonnes of enamelled wire and 85,000 km of triple insulated magnet wire; this is 70-75% (for enamelled wire) and 80-85% (for triple insulated magnet wire) of the peak levels produced in April-September 2008. Enamelled wire production could reach 1,700-1,800 tonnes per month in October 2009-March 2010. Furukawa Electric's domestic magnet wire production is being consolidated into its Mie Works in order to cut costs; production at its Hiratsuka Works will transfer to Mie within 2009.
Caroline Millar

China - Amer Itnl commissions 300ktpy copper rod /100ktpy copper wire project - 0 views

  • Caroline Millar
     
    A 300ktpy copper rod and 100ktpy copper wire project was commissioned by Amer International Group on August 28 in Tongling City (Anhui Province). Amer International invested 3bn yuan (US$439m) in the project and said it expected to realize 20bn yuan (US$2.9bn) of production value per year upon commissioning. The main business of the group (established in 1997 in Hong Kong) is in copper and tungsten; its products are widely used in the production of plane, automobile, computer, television and other household electrical appliances.
Caroline Millar

Japan - July copper cable shipments at highest since November - 0 views

  • Caroline Millar
     
    Japan's copper wire and cable shipments rose in July to 58,200 metric tonnes, the highest level in eight months, up 8.9% from June (and up 30% from May), but down 21 % from 73,244 tonnes a year ago, according to the Japanese Electric Wire and Cable Makers' Association, with the domestic construction sector still particularly hard hit. The 305,818 tonnes shipped from January to June is the lowest six-month level since the first half of 1975 and is 27% down yr/yr; automobile sector shipments fell 46.3% yr/yr to 25,985 tonnes, those to the electric machine and appliance sectors fell 42.4% to 58,974 tonnes and those to the construction and wholesale sectors fell 17.9% to 140,492 tonnes.
Caroline Millar

China - Xingle Copper launches US$21m secondary copper project - 0 views

  • Caroline Millar
     
    Huangshan Xingle Copper Co. Ltd. (Xingle Copper, part of Zhejiang Xingle Group) has launched a new secondary copper project in Huangshan City, Anhui Province, investing 150mln yuan (US$21m). The project will realize 3.6bln yuan (US$527m) of production value after it is commissioned in 2010. Xingle Copper was established in 2003 for the manufacture of low oxygen copper rod and copper wire and realized 2.27bln yuan (US$395m) of production value in 2008.
Susanna Keung

USA - International Wire announced second quarter results - 0 views

  • Susanna Keung
     
    International Wire Group announced results for the second quarter ended 30 June 2009. Net sales for the quarter were US$102.0 million, compared to US$199.9 million for the same period in 2008. The decline was due to a lower copper price and decreased volume. Operating income for the second quarter was US$1.3 million compared to US$10.9 million. The lower income was attributed to lower sales volume in all business segments but was partially offset by operating cost reductions and lower selling and administrative expenses. Net loss was US$0.9 million, compared to net income of US$5.6 million.
Susanna Keung

Japan - Fujikura announced first quarter sales declined 28.7% - 0 views

  • Panos Kotseras
     
    Fujikura Dia Cable (FDC), the joint venture of Fujikura and Mitsubishi Cable Industries, announced a 14% year-on-year decline in their building cables shipment for the period April-September 2008. FDC describe the current situation as a difficult one, especially due to weak demand. The manufacturer, facing decreased inventory value due to falling copper prices, has to sell at relatively low prices reducing profit margins. FDC cable shipments fell by 8% in 2007 and the initial target for 2008 was to grow back to the 2006 level. However, this was revised down because of sales results. Overall profitability is also affected by rising prices of insulating and sheathing materials.
  • Susanna Keung
     
    Japanese electric wire and cable manufacturer Fujikura Ltd reported consolidated financial results for the first quarter ended 30 June 2009. The company achieved sales of ¥112.93b (US$1.19b) for the first quarter, 28.7% lower than the same period a year ago. Operating income for the first quarter was ¥1.84b (US$19.4m), 50.3% lower than the year-ago level. Net income for the same period was ¥111m (US$1.17m), 94.3% lower than a year ago. The company is expecting to make a net loss of ¥800m (US$8.43m) for the first half ending 30 September 2009.
Caroline Millar

Japan - Hitachi Cable to sell Chinese wire unit - 0 views

  • Caroline Millar
     
    Hitachi Cable Ltd. announced on 29 July it plans to sell Hong Kong-based wire production subsidiary Huanan Wire & Cable Service Co., within the month, to 15% stake-holder Hayakawa Densen Kogyo Co. Terms of the deal were not disclosed. Huanan Wire has a factory in Shenzhen which produces general-purpose wire used in electronic equipment. Hitachi Cable now intends to concentrate production in that region on high-value-added products such as cables for medical equipment.
Caroline Millar

Japan - June copper cable shipments down 24.9% y/y - 0 views

  • Caroline Millar
     
    Japanese copper wire and cable shipments in June were estimated at 53,600 tonnes, which was up from 44,767 tonnes in May, but down 24.9% from a year ago, according to data provided by the Japanese Electric Wire and Cable Makers' Association on July 24.
Caroline Millar

USA - Belden to close wire and cable plant in Leominster - 0 views

  • Caroline Millar
     
    Belden announced on 20 July that it plans to cease production activities by July 2010 at one of its Leominster, Massachusetts plants, with the loss of 170 jobs. The facility manufactures wire and cable products for enterprise applications throughout the U.S. Production will move to other existing Belden plants in Leominster, Massachusetts, Monticello, Kentucky, and Nogales, Mexico.
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